There is good news for the high-end Denver real estate market, a segment among the hardest during the downturn. The Denver Business Journal reported this week that June sales activity for Denver resales priced over $1 million hit its highest level since 2008. In June, there were 77 homes sold that were priced over $1 million, a 3 percent increase from last year, and a 22 percent increase from last month.

This is great news for the health of the overall Denver housing market, since high-end homes have not moved quickly over the past years. This has been a great frustration to Denver sellers who are trying to downsize into smaller homes. It is a great relief that luxury homes are finally starting to sell in a shorter amount of time.

Denver Business Journal’s article cites that Denver had the most high-end sales, along with Boulder, Castle Rock, Cherry Hills Village, and Greenwood Village.

We hope to hear more encouraging news like this over the coming months, as historically low interest rates will increase Denver buyers’ buying power, often pushing them into a higher price point. For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.

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Where are the most short sales in Denver?

According to a recent article in the Business Journal, at the end of the first quarter of this year, there were 2,492 single-family short sales in the Denver real estate market. Which county had the most short sales listed for sale?  Arapahoe County had the most listed short sales (624), and was followed by Adams (581), Denver (497), Jefferson (393) and Douglas (387) counties. Adams County saw a 34 percent decrease in the number of short sales, which was the largest drop. Short sales continue to plague Arapahoe County, which had the smallest decrease at 2 percent.

Many Denver real estate experts expect to see more short sales in 2010 than in 2009 as more sellers become aware of the process, and new government guidelines make short sales easier.

If you are a distressed homeowner in the Denver area, please contact Arapahoe-county based TeamCox Realtors at 303-400-6060 for assistance. We are Certified Distressed Property Experts, or CDPEs, trained to help homeowners avoid foreclosure in Denver. There are many options to explore before going through a harrowing foreclosure, including loan modification,  Denver short sale, and many more. We are here to help, so please give us a call at the first sign of trouble paying your mortgage.

Short Sales in Denver

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The federal homebuyer tax credits that expired at the end of April caused a frenzy of sales activity throughout the Denver metro area last month. According to recent Metrolist statistics, the largest number of Denver-area homes (6,616) was put under in any April since the mid-1980s. This is a 27 percent increase from April 2009, and a 12 percent increase from March of this year. The average selling price also increased to $274,253 last month, up from $254,442 in April 2009. Another piece of encouraging news is that the average days on the market (DOM) decreased to 80 days, a 23 percent decrease from April 2009.

One continuing trend is that Denver County had the most home resales (2,844) in April out of the entire Denver metro area. The Arapahoe County real estate market also fared well with second-highest (1,781) number of home sales.

We hope that this momentum will continue for the Denver housing market now that the homebuyer credits have expired – prospective Denver homebuyers need to remember that interest rates are still hovering at historical lows and there is a great selection of homes for sale. For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.

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It’s Time to Relax and Mingle with Your Piney Creek Neighbors!

Calling all Piney Creek mothers, daughters, and granddaughters! Since you are probably looking forward to spending time together over Mother’s Day weekend, we wanted to remind you that the the Piney Creek Women’s League 5th annual Ladies Tea is slated for Saturday, May 8th. The tea – an annual event – will be held at the Piney Creek Clubhouse from 2:00-4:00p.m. The cost is $5.00 per person. 

For more information on Piney Creek events, please visit Piney Creek’s Facebook page, or contact Team Cox Realtors – Piney Creek real estate specialists – at 303-400-6060. Piney Creek holds fabulous events throughout the year, inlcuding its upcoming annual 4th of July Celebration,  that its residents do not want to miss out on!

5280’s (Denver’s magazine) annual real estate issue hit newsstands yesterday, and the results are interesting! This year, the magazine selected “The Great Eight” neighborhoods in Denver. These Denver neighborhoods enjoyed strong price appreciation from 2009 to present. The following areas made the list of Denver’s hottest eight neighborhoods (data was obtained from the May 2010 issue of 5280 magazine)

Sunnyside East: average sales price $181,000, 13% appreciation from 2009

Sloan’s Lake West: average sales price $341,000, 9% appreciation from 2009
Read more about Sloan’s Lake Real Estate

Jefferson Park: average sales price $260,000, 9% appreciation from 2009

Congress Park South: average sales price $445,000, 9% appreciation from 2009
Read more about Congress Park Real Estate

Belcaro: average sales price $845,000, 8% appreciation from 2009
Read more about Belcaro Real Estate

Berkeley West/Regis: average sales price $845,000, 8% appreciation from 2009

Park Hill East: average sales price $204,000, 5% appreciation from 2009
Read more about Park Hill Real Estate

Washington Park: average sales price $395,000, 1% appreciation from 2009
Read more about Washington Park Real Estate

There is lots of great information in the magazine about Denver real estate, so be sure and check it out. For more information on Denver’s hottest neighborhoods, please contact TeamCox Realtors at 303-400-6060.

Read More About “Denver’s Best Places to Live” in 5280 Magazine 

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Yes, one Douglas County school is growing right now!

Many Denver-area public school districts are financially-strapped and slashing their budgets – teachers are losing their jobs, school days are being shortened, and some programs are being eliminated altogether. How is it possible that Parker, Colorado’s Southeast Christian School has become the little school that could? Southeast Christian School grew 14 percent last year.  Most Denver-area schools – public, charter or private – can only dream of this growth in a booming economy.  It seems that family, a belief in Christian principles, and a respect for learning in a nurturing environment, has created student demand. No doubt, this kind of success can be directly attributed to the administrative leadership, as well as to the unsung heroes – teachers.

Southeast Christian School is prospering and growing under the leadership and direction of its capable headmaster, Dr. Vern Walters. Vern is a retired pediatrician and it gives parents peace of mind that a gentle man is on-site, who can diagnose and treat minor emergencies that occur at school – scraped knees, bumped heads, or even a panic attack.

I recently interviewed Vern, and asked what led him to take on the position of headmaster after a long career in medicine. He replied that it was about watching the educational growth of the students. “After being in the practice of Pediatrics for 40 years and seeing children’s physical growth and development, it is exciting now to watch the growth and development of the minds of these students”.

Dr. Walters modestly attributes his school’s success to its stable faculty, who all either has a Colorado teaching license or are eligible for one. One-third of its elementary teachers have master’s degrees in several areas, including reading and special education.  All middle school teachers have one or two master’s degrees.  This talent pool has resulted in SAT class-specific scores (beginning with kindergarten) of 1.5 to 2.0 years ahead of the national average and the middle school grades are 2.5 to 3 years ahead of the national average.  75 percent of Southeast Christian’s 7th and 8th grade students are ranked in the top 25th percentile, and the remainder score in the top 50th percentile of the Douglas County mandatory Explorer ACT College preparedness test.

The school’s growth has resulted capacity issues, and a need for expanding the existing facility for middle school and a possible future  high school. Southeast Christian is currently working with the Parker Building Division for the project with a projected target the fall of the 2011-12 school year.  The Town of Parker has been extremely cooperative in this endeavor.

Congratulations to Dr. Walters, the extraordinary faculty and the parents and students of Southeast Christian School.  Oh, and here’s to the power of prayer!

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According to an article in the Denver Post today regarding census numbers, Denver County was the Front Range’s fastest growing county from 2008-2009. This is not only the first time that this has happened since the early 1970s, but the big spurt landed Denver County on a list of the five fastest-growing large counties in the country. Denver County’s population in 2009 was 610,345, a 2.9% increase from 2008. Denver had a net gain of 10,620 people last year, along with a 6,776 increase in births minus deaths.

It is important to note that during the first half of the 2000s, more people were moving out of Denver County than were moving into it. Why the reversal? Experts  attribute this trend to the growing popularity of urban living. People want to be closer to their jobs, and have a desire to be near cultural and commerce centers.

Other counties on the list of Front Range’s fastest growing counties are Adams County (2.7%), Douglas County (2.5%), Weld County (2.4%), and Broomfield County (2.1%).

Of course, this is great news for the Denver housing market, since a growing population means more people to buy and sell homes! For information on Denver real estate, please contact TeamCox Realtors at 303-400-6060.

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TeamCox Realtors reported in September 2008 that IKEA will build its first Colorado store in Centennial.  Like everyone else, we were starting to wonder about its fate over the past year and a half, but there is good news! It was announced today that the store is slated to open in fall 2011. It will be located just west of I-25 between County Line and Dry Creek.

For those of you who don’t know of IKEA, it is not your everyday furniture store, but an international phenomenon. The successful Swedish company sells sleek and stylish home furnishings at very competitive prices. One common complaint about IKEA is that many of its products need to be assembled, but you’ll likely let that one slide once you see all of IKEA’s unique offerings!

Now, you just need a new house to for all of your new furniture! Please let us know if we can help you find a new Denver home!

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BusinessWeek recently named the country’s “Best Affordable Suburbs in America,” and Douglas County’s Roxborough Park made the list. Roxborough Park, Colorado, a Denver-area suburb with a population of 8,211, was ranked as the seventh best affordable suburb in the country, based on its affordability, high quality of life, amenities (country clubs and golf courses), low crime rate, quality education and low commute times.

The magazine described Roxborough Park as, “The red rock formations near Roxborough Park, a community that developed in the 1970s, are considered some of the most spectacular mountain scenery in Colorado. The 3,339-acre state park offers residents hiking and biking trails, cross-country skiing, and educational programs for Colorado geology and wildlife. The Douglas County School District is one of the best in the state.”

For information on Roxborough Park real estate, or regarding Douglas County real estate, please contact TeamCox Realtors – Denver real estate specialists – at 303-400-6060.

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Happy Valentine’s Day from TeamCox Realtors! A Cherry Creek home was recently named among the country’s most romantic homes. The home, located at 478 Saint Paul Street, was chosen as the ninth most romantic home for sale in the country  by TopTenRealEstate Deals.com. 

It is the perfect gift for you and your sweetheart if you happen to have $5.7 million to spend on a love nest. It boasts 7,066 square  feet, four bedrooms, five baths, an indoor pool, a 1,200-bottle wine celler, a private master deck, a spa living room, and much more!

To see other romamtic Denver homes, please contact TeamCox Realtors at 303-400-6060.

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